Buying a car is a major purchase, so shop carefully. Your goal: to find the car you need at a price you can afford. The resources below will steer you right.
Estimate your monthly payment.
If you're like most people, you'll take out a loan to pay for your new car. Your monthly loan payment will be based on a number of factors including:
- Cost of your new car
- Amount of your trade-in and down payment
- The amount you own on your trade-in
- Interest rate
- Length of the loan
- Sales taxes and other fees
Use this online calculator to estimate your monthly payment.
Source: CPA Site Solutions
Browse the price of various cars.
Thinking about purchasing a certain make and model? How does it size up to comparable brands? View new car prices, reviews & detailed information about various car makes and models.
Source: Edmunds.com
This resource contains Operating costs and Ownership costs associated with operating a vehicle.
Source: Consumer Reports
A new car is second only to a home as the most expensive purchase many consumers make. According to the National Automobile Dealers Association, the average price of a new car sold in the United States is $28,400. That's why it's important to know how to make a smart deal.
Source: Federal Trade Commission
Become an educated used car buyer.
The price of new cars has steadily climbed over the past few years making used vehicles more attractive than ever. Because new vehicles lose so much of their value as soon as they're purchased, car shoppers are increasingly turning to previously owned cars as a smart financial alternative. Today, thanks to manufacturing and maintenance advances, used vehicles are better than ever and still a great value.
The first step to buying a used car is a detailed assessment of your transportation needs. It's a good idea to answer the following questions....
Source: Federal Citizen Information Center
Compare the cost of buying vs. leasing.
Should you lease or buy your car? Use this calculator to find out! We calculate your monthly payments and your total net cost. By comparing these amounts, you can determine which is the better value for you.
Source: CPA Site Solutions
Consumer guide to leasing a vehicle.
Under the federal Consumer Leasing Act, you, the consumer, have a right to information about the costs and terms of a vehicle lease. This information will help you compare lease offers and negotiate a lease that best fits your needs, budget, and driving patterns.
This consumer guide is for a closed-end lease, the most common type of vehicle lease. With a closed-end lease, you may return the vehicle at the end of the lease term, pay any end-of-lease costs, and walk away. The sample leasing form shows the types of information the dealer or leasing company must give you before you sign a lease. The glossary gives definitions of terms associated with vehicle leasing.
Source: Federal Reserve Board
Test your knowledge: Ten Questions on Leasing a Car.
How much do you really know about leasing a car? This ten-question true-false quiz will help you check your knowledge of vehicle leasing. The answers are linked back to explanations so you can refresh your memory on the details if you need to.
Source: Federal Reserve Board
Check out a car's safety rating.
How safe is the car you are considering purchasing? This resource will tell you!
Source: Consumer Reports
Research a car's fuel economy.
Find and compare cars based on gas mileage (MPG), greenhouse gas emissions, air pollution ratings, and safety information for new and used cars and trucks.
Source: United States Department of Energy
Compare the relative gas consumption, mpg, and tailpipe emissions of hybrid versus conventional models. What's available and what's in the works. Myths and realities. And a few other tips to help you decide about a green car. A few words about the stuff you buy after you buy a hybrid, like service, roadside assistance, and warranties. Hybrids and diesels cost a bit more, but do they pay for themselves? Are there any hidden costs? Helping the world is cool, but at what expense? And more...
Source: HybridCars.com
Compare hybrid fuel efficiency.
Use this resource to compare hybrid fuel efficiency.
Source: U.S. Department of Energy
Get the dealer's invoice price.
Know what the dealer paid!
With a Consumer Reports New Car Price Report, you'll know where to start when negotiating for a new car. Armed with customer rebates and incentives, behind-the-scenes dealer incentives, and hold-backs, you'll be guaranteed to get your new car at a reasonable and fair price.
Source: Consumer Reports
See available manufacturer rebates.
Save up to thousands of dollars with manufacturer incentives and rebates. Use this resource to find out if your desired vehicle has any special offers.
Source: Carsdirect.com, Inc.
Compare auto and home equity loans.
Home equity loans often have lower interest rates than auto loans and the interest may be tax deductible. Two good reasons to take a look at home equity loans to finance your automobile purchase.
Source: CPA Site Solutions